On 10 July 2020, the Luxembourg Parliament (Chambre des Députés) adopted a new law relating to professional payment guarantees.

The law introduces a special regime for personal guarantees granted in a professional context among parties who wish to benefit from greater contractual freedom in determining the features and the legal consequences of a guarantee.

More detailed information on the law can be found in our related article "Professional Guarantees" published on our website.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.